2023-2024 Annual Report
The Greater Raleigh Convention and Visitors Bureau's Annual Report updates you on the Bureau's progress toward increasing the area’s visitor and convention business. Review 2023-2024 progress reports here for sales, destination services, marketing and communications, public relations and international tourism, sports marketing, administration and destination data and technology, plus see a summarized report on Destination Strategic Plan work for the 2023-2024 fiscal year here.
Review the Bureau's business plan online for a summary of strategies and objectives for the 2024-2025 fiscal year.
We have also produced a Wake County Visitation Data Supplement with our partners at Arrivalist, a geo-location and ad measurement tool for destinations. You can view the report here or at the button below.
Letter from Chair Dr. Valerie Hillings
Dear Partner in Wake County Hospitality and Tourism,
Fiscal year 2024, my term as CVB board chair, saw a record-setting performance in annual tourism objectives countywide and marked success for the long-term destination management work of CVB leadership, as we reached the halfway point in progress toward Destination 2028 (the 10-year implementation of Wake County’s Destination Strategic Plan by the Bureau, partners and allies).
With the release of this Annual Report, we are thrilled to announce that Wake County tourism has reached the highest levels on record across all measured objectives:
- 18.5 million people visited in calendar year 2023;
- these visitors spent $3.2 billion on their trips; and
- $307 million was added to local/state tax coffers as a result.
Direct spending by Wake County visitors generates two streams of local tax revenue (comprising Raleigh and Wake County’s Interlocal Fund), which contribute to the CVB budget and the Bureau’s work attracting future visitation. During 2023-2024, these two tourism-related taxes raised $84.9 million ($39.6 million in hotel occupancy tax collections and $45.3 million in food/beverage tax collections), a new record and 6.1% increase year-over-year.
Consistent post-pandemic recovery in countywide tourism sales has also resulted in hospitality job growth locally. In 2023, 25,796 people worked directly with visitors in Wake County, up from 24,591 people during 2022. In addition to directly sustaining these 25,796 jobs, greater demand/visitation made possible their combined payroll total of $890 million in 2023.
The CVB, with its budget of $11.3 million, was responsible in 2023-2024 for direct economic impacts of $217 million based solely on new convention and sports group bookings made in Wake County, representing a 19-to-1 return on budget invested. Flourishing leisure visitation to our area also generated economic impacts many times over the annual marketing budget.
On behalf of the Board, I would like to specially thank these key stakeholders—Wake County Board of Commissioners, Raleigh City Council, Centennial Authority, Raleigh Convention Center, Greater Raleigh Sports Alliance Advisory Board, all area town officials and all local hospitality businesses—for their collaboration and unwavering support for the CVB’s mission.
Please review detailed accomplishments of all our CVB departments on these ensuing 2023-2024 Annual Report pages.
Sincerely,
VALERIE HILLINGS, PH.D., Chair
Greater Raleigh Convention and Visitors Bureau Board of Directors
Director & CEO, North Carolina Museum of Art